23542071
Description
Flashcards by Sophia Lynch, updated more than 1 year ago
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Created by Sophia Lynch
over 4 years ago
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| Question | Answer |
| What would a business consider in a budget? (5 year outlook) | 1. What markets do we aim to serve 2. What production methods we want to use 3. What is our target profit 4. What staff do we need 5. What financing do we need 6. What other resources |
| What is a rolling basis/rolling budget? | A budget created every 12 months. |
| Why is a rolling budget useful? | Provides accuracy. |
| How is a rolling budget NOT useful? | Cost more time/time consuming. |
| What are cash reciepts? | The money we receive from our customers. |
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